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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (11192)	2/19/2000 4:59:00 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 42523

Luc, Greenspans answer to the last question, "you can't manage what you can't define" is a scandal. he knows very well what's what and that the FOMC's reserve additions have fueled money supply growth and the bubble. he said it himself in his essay about the gold standard when he touched upon the actions of the '20's Fed. his words: "The excess credit which the Fed pumped into the economy spilled over into the stock market-triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence. As a result, the American economy collapsed. " this goes to show that he has long ago thrown his principles out of the window. devotion to sound money? what a joke. imagine Ron Paul confronting him with his own words....that would have been even better and might have spooked people even more. anyway, to find out that the Fed's main job, the managing of the money supply, actually can't be done according to bubble boy due to a lack of definitions for money, is rather disconcerting all by itself.

To: Lucretius who wrote (11192)	2/19/2000 8:50:00 PM
From: Roads End	Read Replies (2) \| Respond to of 42523

God bless Ron Paul. In his dialog, facing the man, he was able to sum it all in a simple sentence. >>You know, if I set my targets and I perform like that as a physician, my patient would die.>> Can Paul grab Bush's ear or is he deaf like most pols? As I recall Spam has to give the same testimony again this Wednesday. Got congressman?